TATA Steel weekly update. Dated:19th May 2014 (Monday).

• TATA Steel gave good up move on the news day but price has come back to the neck line of the bullish pattern.
• Daily shows a big bearish engulfing pattern But this pattern needs to be followed up by more selling to confirm further bearishness. If the neck line holds another up move is possible

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US SILVER CHART showing weak signals in charts. Dated:19th May 2014 (Monday).

• US SILVER chart has formed descending triangle formation.
• Silver also trading below 50 days moving average, indicates weakness.
• As shown above silver is coming down from its  38.2% fibonacci retracement.
• Silver will now face support @ 18.80, if breaks down with volumes then can see further selling in market.

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Bullish breakout in OMAXE , Stock will favor bulls. Dated:19th May 2014 (Monday).

• OMAXE closed above its major trend line resistance @ 134, 136. As long as stock stays above its resistance looks bullish.
• Stock also moving up from 50 days moving average , will favor bulls.
• OMAXE will now face its next trend line resistance around 148 as shown above.
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BALAJI TELEFILMS chart update: Dated 19th May 2014 (Monday).

• BALAJI TELEFILMS has formed up channel formation in hourly chart.
• Stock also trading above its 20 hours moving average, if stays above then will favor bulls.
• Stock also closes above its major resistance zone in weekly chart, close watch as long as stays above balaji telefilms will favor bulls.
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